CHCL finally moving up again, I assume on this news. But also wouldn't be surprised to see another dip, too -- this one likes to jump-around a lot...
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Friday February 25, 11:25 am Eastern Time
SOURCE: China Continental, Inc.
Venture Capital Fund to Acquire a Significant Stake in China Continental
HONG KONG, Feb. 25 /PRNewswire/ -- China Continental, Inc. (OTC Bulletin Board: CHCL - news) announced today that it is in negotiations with a venture capital fund to acquire a significant stake in China Continental.
This investment will provide additional capital for China Continental that will primarily be utilized in its dairy project in Pakistan. The fund will also participate in the management of the project.
China Continental, as previously announced, is currently planning to manage a dairy farm project in Pakistan as part of its strategy to expand its business operations internationally. The venture, combined with related infrastructure projects, may result in a $1 billion investment. The purpose of the investment is to meet the demand for local and export markets. The dairy farm will concentrate on improving the quality of dairy products and increasing the yield to meet market demands. The project may produce up to 100,000 tonnes of dairy products, including liquid milk and powder milk, per year.
``The fresh capital injection will give China Continental an advantageous boost to expand our business. As the current supply of dairy products in Pakistan is unable to meet the demands of the local market, we see a significant opportunity in addressing this issue. China Continental and Stock Links Investment Management Limited of Pakistan, CHCL's Financial Advisor in connection with the completion of the Master Plan for the project, jointly carried out a feasibility study. Assuming a smooth implementation of our plan, the study indicated that China Continental could derive revenue of approximately US$300 million annually, once in full operation,' commented Mr. Harry H.H. Ho, Chairman of China Continental, Inc.
About China Continental, Inc.
China Continental, Inc., traded on the OTC Bulletin Board market since 1995, is a holding company with over ten years of experience in developing turnkey businesses. Core activities include supplying manufacturing technology on a turnkey basis, high technology manufacturing techniques in primary industries, and developing and providing technologies in agricultural genetics and farming. The Company's agricultural genetics and farming activities are centralized in the Inner Mongolia Province of China, covering an area of 406 square kilometers to commercialize its genetic techniques in breeding as well as propagating superior livestock and products in its own Research and Development Institute. |
